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Economy
Saturday, 01-March-2008
Almotamar Net - The 3rd joint meeting of the Gulf Cooperation Council (GCC)s foreign ministers and Yemens foreign minister Dr Abubakr al-Qirbi affirmed Saturday completion of the procedures for Yemens joining of the Gulf Organistion for Industrial Investments and the Standardization Authority and setting up mechanisms for the encouragement of the GCCs private sector investment in Yemen and enhancing the partnership of businessmen of both sides. Almotamar.net - The 3rd joint meeting of the Gulf Cooperation Council (GCC)'s foreign ministers and Yemen's foreign minister Dr Abubakr al-Qirbi affirmed Saturday completion of the procedures for Yemen's joining of the Gulf Organistion for Industrial Investments and the Standardization Authority and setting up mechanisms for the encouragement of the GCC's private sector investment in Yemen and enhancing the partnership of businessmen of both sides.

A statement issued by the meeting that was concluded in Riyadh on Saturday stressed that the joint working group formed pursuant to Sana'a agreement for 2002 should intensify its works to complete drawing up a vision for the republic of Yemen participation in the economic aspects and other areas of cooperation in the way contributes to consolidate evolvement, development and social prosperity and enhancing interrelationship between the two sides.

The statement also included that the joint technical committee should complete follow-up results of the donor conference and following up implementation of projects in accordance to their timetable and to report on any blocks or difficulties that may intercept the implementation. It asked that the committee has to complete the study of the Yemeni development needs for the 4th development plan of 2011-2015 in line with the executive programme that was agreed on in the way enabling comprehensive qualification of Yemen in economic and social aspects and its integration with the GCC states economies.

The ministers have also reviewed what was agreed on in the second consultative meeting between Yemen and development partners held in Sana'a in February 2008 concerning enhancement of mechanisms of implementing projects and acceleration the rate of achievement in the development projects agreed on funding them. They affirmed the importance of carrying out the agreed on recommendations in this regard.

The ministers have shown their satisfaction over the accomplishments concerning allocation of resources necessary for development projects and programmes in Yemen and their implementation and the steps that Yemen has taken for carrying out reforms aimed at strengthening efficiency of the Yemeni economy and improving the investment environment as well as achievement of he goals of economic and social development that would contribute to the process of the Yemeni economy integration with the GCC states economies.


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